Bad and Poor Credit, Gasoline and Gas Station Business Financing and Loans, No Credit Checks, Working Capital Financing Up To $50,000
Bad and poor credit gasoline and gas station business financing and loans, without credit checks, are available with easy qualify working capital financing up to $50,000. This gives the established gas station small business with bad or poor credit a great opportunity to obtain working capital financing for their business without a personal credit check. This no credit check gas station business loan and financing program isn’t a merchant cash advance or merchant loan. Additionally, it isn’t related to the payday loan program.
This no credit check bad and poor credit gasoline station business loan program is constructed in the following manner. The small business applicant should follow the below guidelines:
1) Maintain at least a $4,000 ending gas station bank balance in their business account
2) Deposit at least 10-15 times per month in their business account
3) Be in business at least one year and establish the ability to repay back the loan
4) Have no outstanding large tax liens, delinquent child support issues, not currently in bankruptcy or foreclosure
Documentation Requirements
1) Signed and dated application
2) Provide a copy of the detailed business gas station bank statements for the last four months
3) Copy of the Owners Drivers Licenses
4) A copy of the Articles of Incorporation if Applicable
5) Copy of a business license, tax id number or any other relevant license
The lender will advance up to 2.5 x the average ending balance on the gas station business bank account for the last four months up to $50,000. These are business loans and the length of the loan is four months which can be renewed. The loan can replace a merchant cash advance if it doesn’t exceed 40% of the eligible borrowing base. At funding, the lender will pay off the merchant cash advance or loan and pay you the difference.
Example, your monthly average ending balance in your gas station business bank account is $20,000 for four months. Your borrowing base would be $20,000 x 2.5 or $50,000. If your current cash merchant advance is $18,000, the lender at funding would payoff the merchant first and remit to you the difference for $32,000. Obviously if you didn’t have an outstanding merchant cash advance, this area wouldn’t apply.
The types of businesses that would be great for this type of bad and/or poor credit loan and financing program would be the following:
Gasoline and gas stations, grocery, convenience, restaurants, bars, discos, tanning salons, pizza shops, dry cleaners, doctors, dentists, physicians, lawyers, accountants, Cpas, limousine owners, automobile service centers and body repair shops, dog groomers, florists, beauty and nail shops, distributors, all different types of service providers.
In conclusion for the bad and/or poor credit gas station business applicant, this is a great opportunity to obtain short term small business loan financing in this tough economy. This isn’t a merchant cash advance or loan program which can be quite tedious in its paperwork and processor work requirements. This great business loan and financing program isn’t credit driven, therefore your Fico Score isn’t an issue.. These small business loans can be renewed every four months if needed by the applicant and gives the business a working capital injection.
Happy hunting for your bad and/or poor credit small business gasoline and/or gas station loan and its related working capital financing
About the Author
Rick has over thiry years in the financial field, including financing, leasing, business loans, working capital, hard asset money loans, and commercial lending.
U.S Corporate Capital Leasing assists the start up and seasoned businesses for all its gasoline and gas stations financing needs
http://www.cclgequipmentleasing.com
http://www.cclgequipmentleasing.com/cashadvances.htm
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